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Home My WebLink AboutContract 54793-A1CSC N o. 54793-A1 FIRST AMENDMENT TO CITY SECRETARY CONTRACT NO. 54793, A MANAGEMENT AND IMPROVEMENT SERVICES AGREEMENT Fort Worth Public Improvement District No. 20 (East Lancaster) This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 54793("First Amendment") is made and entered into by and between the CITY OF FORT WORTH ("City"), a home- rule municipal corporation organized under the laws of the State of Texas, acting by and through its duly authorized Assistant City Manager, and FIRSTSERVICE RESIDENTIAL TEXAS PID, LLC, a Texas limited liability company ("Contractor") acting by and through its duly authorized representative. WHEREAS, the City and Contractor are parties to a Management and Improvement Services Agreement for Fort Worth Public Improvement District No. 20, the same being City Secretary Contract Number 54793 ("Agreement"); WHEREAS, Contractor identified the need to revise the budget to reallocate certain resources; WHEREAS, on Apri16, 2021, the City Council authorized a resolution approving a revised Fiscal Year 2020-2021 budget and iive-year service plan, taking into account the revised budget; WHEREAS, the parties wish to amend the Agreement to incorporate the revised budget; and NOW, THEREFORE, for and in consideration of the mutual covenants, promises, and agreements contained herein, the City and Contractar do hereby covenant and agree to amend the Agreement as follows: 1. Exhibit A to the Agreement concerning the Budget and Service Plan for the District is replaced with, and superseded by, a new Exhibit A that is attached to this First Amendment, which is incorporated into the Agreement for all purposes. 2. All terms of this First Amendment that are capitalized but not defined have the meanings assigned to them in the Agreement. 3. All terms and conditions of the Agreement that are not expressly amended pursuant to this First Amendment will remain in full force and effect. IN WITNESS WHEREOF, the undersigned have caused this First Amendment to be executed in Fort Worth, Tarrant County, Texas. CITY OF FORT WORTH: �� V�� By.Jesus Chapa (May 28, 2 21 2� Jay Chapa Deputy City Manager Date: M a�/ 2(�� 2�21 First Amendment to CSC 54793 FIRSTSERVICE RESIDENTIAL TEXAS PID, LLC a Texas limited liabiliry company tC�ttu� 1N'a��i B Kathleen Ward (May 28, 20211215 CDT) Y� Kathleen Ward President Date: May 28, 2021 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX ATTEST: By: ��/�� U �/ �� Mary J. Kayser City Secretary ,d-p4�� a� F�RT ��1 � �F000000000� d� o � � 0 ��o °�-Idd �Vo °=d � o 00 �� o � a�� o� � o 0 �000000 � � nEX ASaaa APPROVED AS TO FORM AND LEGALITY: iyf�. G�%a�'� By: 0 Tyler F. Wallach Senior Assistant City Attorney Contract Compliant Manager: By signing, I acknowledg that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. �� Crystal Hinojosa Sr. Contract Compliance Specialist M s: 20-0579 (August 25, 2020); 21-0229 (Apri16, 2021) Form 1295: 2020-653784 First Amendment to CSC 54793 OFFICIAL RECORD CITY SECRETARY FT. W�RTH, TX 0 Exhibit "A" REVENUES PID Assessments Total Budgeted Revenues Use of Fund Balance Total Funds Available for Use EXPENSES Management Fee City Administrative Fee Security Community Marketing/Events Audit/Annual Review Comm u ni cati ons Total Budgeted Expenses City of Fort Worth Five Year Service Plan (Mid Year) Public Improvement District No. 20 - East Lancaster FY20/27 FY29l22 FY2?l23 $ 256,457 $ 264,151 $ 272,076 $ 256,457 $ 264,757 $ 272,076 36,000 - - $ 292,457 $ 264,757 $ 272,W6 FY23/24 FY24/25 $ 280,238 $ 288,645 $ 280,238 $ 288,645 $ 280,238 $ 288,645 $ 17,800 $ 18,156 $ 18,519 $ 18,890 $ 19,267 5,129 5,283 5,442 5,605 5,773 261,528 218,091 232,126 236,387 244,884 3,000 3,500 3,700 3,800 4,000 2,500 2,500 2,500 2,500 2,500 2,500 3,000 3,000 3,000 3,000 $ 292,457 $ 25Q530 $ 265,287 $ 270,782 $ 279,424 TotalExpenses $ 292,457 $ 250,530 $ 265,287 $ 270,182 $ 279,424 Contribution to Fund Balance 13,621 6,789 10,056 9,221 Net Change in Fund Balance $ (36,OOO) $ 13,627 $ 6,789 $ 70,056 $ 9,221 Fund Balance, Beginning of Year (Estimated Yrs 2-5) 71,509 35,509 49,130 55,919 65,975 Estimated Fund Balance, End ofYear 35,509 49,130 55,919 65,975 75,196 Reserve Requirement 3Q531 44,223 45,030 46,571 46,571 Over (Under) Reserve $ 4,978 $ 4,907 $ 10,889 $ 79,404 $ 28,625 *FY2027 Assessment Rate = $.266 First Amendment to CSC 54793 3 of 4 First Amendment to CSC 54793 4 of 4 City of Fort Worth, Texas Mayor and Council Communication DATE: 04/06/21 LOG NAME: 17PID20 MIDYEARFY21 SUBJECT M&C FILE NUMBER: (CD 5 and CD 8) Adopt Attached Resolution Amending the Fiscal Year 2020-2021 Budget and Five-Year Service Plan for Public Improvement District 20 — East Lancaster Avenue and Adopt Attached Appropriation Ordinance RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached resolution approving the revised Fiscal Year 2020-2021 Budget and Five- Year Service Plan for Public Improvement District 20 — East Lancaster Avenue to reflect amendments associated with a mid-year review; and 2. Adopt the attached appropriation ordinance increasing receipts and appropriations in the Fort Worth Public Improvement District 20 — East Lancaster Avenue Fund in the amount of $36,000.00, from available, unreserved fund balance. DISCUSSION: The City of Fort Worth Department of Economic Development administers the City's Public Improvement Districts (PIDs) in accordance with Chapter 372 of the Texas Local Government Code. The City's PID Policy outlines the need to proactively work with the PID managers to oversee the services being provided by the PIDs and their associated financial positions. Staff, along with the contracted PID management companies, have conducted mid-year reviews of the Public Improvement District 20 - East Lancaster Avenue (East Lancaster PID) Annual Budget (Budget) and recommend the following adjustments. The City contracts with FirstService Residential Texas PID, LLC (FirstService) to manage the East Lancaster PID. FirstService has identified the need to increase the East Lancaster Budget by $36,000.00 to cover expenses associated with increases to security for increased patrols and installation of security cameras. Removal of the insurance line item does not relieve FirstService from acquiring insurance in the types and amounts required under the contract. All such insurance costs are built into the current management fee. Revenue adjustments: Line Items to be Adjusted PID me Previously Approved FY21 Budget Item $256,457.00 Recommended Mid-Year Adjustment Amended FY21 Budget Item $0.00 � $256,457. Use of Fund Balance Totals $0.00 � $36,000.00�� $36,000. $256,457.00 � $36,000.00 � $292,457.00 Expenditure adjustments: Line items Previously Recommended Amended to be Approved FY21 Mid-Year FY21 Budget Adjusted Budget Item Adjustment Item Security $219,528.00 $42,000.00� $261,528.00 Insurance $6,000.00 ($6,000.00) $0.00 Totals $225,528.00 $36,000.00 $261,528.00 Staff supports FirstService's recommended mid-year budget adjustments. All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendations, the total budgeted expenses for Fiscal Year 2020-2021 will remain at $292,457.00. This mid-year budget adjustment will decrease the unaudited, unassigned fund balance by a total of $36,000.00. The revised Budget and Five-Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the existing contract to reflect the mid-year adjustment (City Secretary Contract No. 54793). The East Lancaster PID is located in COUNCIL DISTRICTS 5& 8. A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds will be available in the current operating budget, as appropriated, in the FWPID #20 - East Lancaster Ave Fund. Prior to any expenditure being incurred, the Economic Development Department has the responsibility to validate the availability of funds. Submitted for City Manager's Office b� Jay Chapa 5804 Originating Business Unit Head: Robert Sturns 2663 Additional Information Contact: Crystal Hinojosa 7808